Further evidence heard from professional advisors

The Panel reviewed a number of recent submissions from stakeholders including employers, trade unions and individual members. These continue be helpful to the Panel, and we are grateful to all those who have taken the time to submit views and evidence.

The Panel took evidence from PwC on their professional advice given to USS on the unique covenant of the UK higher education sector, and the diversity of the sponsoring employers of USS. In its discussion with PwC the Panel also considered the unique features of USS.

The Panel also met with the actuarial advisors to UCU and UUK, First Actuarial and AON, to follow up an earlier session exploring the stakeholders’ assessment of the valuation process in greater detail.

In line with the Terms of Reference set by UCU and UUK, the Panel will publish its report in September. During meeting 8 the Panel went on to discuss its key messages and plans for publication.

The deadline for submission of evidence is August 17 and you can make your contribution via submit@ussjep.org.uk. All submissions will be treated in complete confidence.

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About

The Joint Expert Panel (JEP) has been set up to examine the valuation of the Universities Superannuation Scheme (USS).

The JEP is tasked with agreeing key principles to underpin the future approach of the University and College Union (UCU) and Universities UK (UUK) to the USS valuation.

As outlined in the panel’s terms of reference, a report from the JEP is expected in September 2018.
The panel was set up under an agreement reached between UCU and UUK at the Advisory, Conciliation and Arbitration Service (Acas) in March 2018.